South State Corp (NASDAQ:SSB) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.46 per share by the bank on Friday, November 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from South State’s previous quarterly dividend of $0.43.
NASDAQ:SSB traded up $0.11 during trading hours on Tuesday, reaching $81.88. The company’s stock had a trading volume of 1,858 shares, compared to its average volume of 122,950. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 14.87 and a beta of 1.34. South State has a one year low of $56.55 and a one year high of $82.01. The business’s 50-day moving average is $76.85 and its 200-day moving average is $74.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.98.
South State (NASDAQ:SSB) last released its quarterly earnings results on Monday, October 28th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.06. South State had a net margin of 25.53% and a return on equity of 8.20%. The company had revenue of $164.96 million during the quarter, compared to analysts’ expectations of $163.79 million. During the same period in the prior year, the company earned $1.33 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that South State will post 5.49 EPS for the current fiscal year.
In other news, Director James W. Roquemore sold 4,791 shares of South State stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.15, for a total transaction of $364,834.65. Following the transaction, the director now directly owns 37,515 shares of the company’s stock, valued at $2,856,767.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert R. Horger sold 8,339 shares of South State stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.00, for a total transaction of $625,425.00. Following the transaction, the director now directly owns 75,231 shares in the company, valued at $5,642,325. The disclosure for this sale can be found here. In the last three months, insiders sold 20,564 shares of company stock valued at $1,547,810. 2.05% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on SSB shares. ValuEngine lowered shares of South State from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. BidaskClub raised shares of South State from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. SunTrust Banks raised their price objective on shares of South State from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Zacks Investment Research lowered shares of South State from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Stephens raised shares of South State from an “underweight” rating to an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $77.33.
South State Company Profile
South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management services, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, and ATM processing services.
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